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Correction

GOLD, will NFP finally start wave C?Hello everyone, Gold currently confusing traders as it switches between correctional movements and speculative pullbacks. From a technical point of view the 2067 level is now very important for the next move, which I expect to be a short one. Only a daily candle close above can invalidate the short scenario which would have the targets 1980 , 1920 and 1895 . The yellow triangle is a possible reversal zone for a wave 2 bottom and bullish move towards new ATH with targets at 2300 and 3000 . Looking at the big picture of Gold, it has been in a very long consolidation in the 1640 - 1980 range. So far every breakout attempt over the upper boundary has been sold within a few days. But with the break above 2000 related to the middle east conflict Gold was able to stabilize above 1980. Most likely the 1980 will be retested to built liquidity for a bullish move first. I suggest to go short to anticipate in wave C of wave 2. The reversal zone for this move is the current resistance 2060 - 2067. I will keep you updated if I see conformation or trading opportunities. If you have any questions feel free to contact me.
CAPITALCOM:GOLDShort
by Kyrean
BTC Correction Incoming: ICT Unicorn Model?This resembles an ICT Unicorn model (not sure if this is what you call it tho): Price obtained liquidity above, accompanied by a robust volume push-down to 38.5k, forming a breaker block coinciding with a Daily FVG. It's noteworthy that the current Breaker block level constitutes 50% of the present range, validating the corrective wave. Anticipating a price retracement to the daily FVG above 38k or completion of the corrective wave in the range of 32k-36k, where liquidity and an unfilled daily FVG are apparent. Please manage your risk because price can still go higher around that premium zone.
Short
by infamous7
9
Nvidia - How Long Will It LastHello Traders, welcome to today's analysis of Nvidia. -------- Explanation of my video analysis: All the way back in February of 2014 we saw a breakout of a long term symmetrical triangle on Nvidia. This breakout was followed by an insane +9.500% rally towards the upside. Right now Nvidia is trading in a solid ascending channel and is approaching the upper resistance trendline. I do expect a (short term) pullback from there to retest the support mentioned in the analysis. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
NASDAQ:AMD
by basictradingtv
9
Microsoft Chart Update: Key Levels to Watch Now!⚠️Examining Microsoft 's NASDAQ:MSFT 2-hour chart , we see the end of Wave ((v)) at $415, coinciding with a challenging earning call. Currently, we expect short-term support at the Wave ((iv)) level, around $364, and aim to stay above the 61.8% mark of $349. 📉 As we're potentially starting a long-term Wave II, we anticipate finding initial support without a significant breakdown. The 2-day chart suggests we might be nearing the cycle's end, with Wave 5's potential range between $388 and $430. If a pivot at 38 to 50% happens it could lead to new highs, indicating the current cycle isn't over yet and we have to see wave 5. If not, a deeper correction to at least $214, the previous Wave (4) level from November 2022, is plausible. 😷 The pandemic level at $136 also remains within the realm of possibility for Wave II. This reflects the market's need for corrections after strong upward momentum in recent years. Please keep in mind that there is no chart on this world that is growing without corrections and if you zoom out on all big bad events, they are about non existing and so will it be if Microsoft or other will have a larger pullback!
NASDAQ:MSFTShort
by freeguy_by_wmc
The Walt Disney Analysis: Looking at the 3-Day Timeframe 🐭The Walt Disney Company NYSE:DIS , a subject of much discussion due to its corporate policies, is under our lens today. On the grand scale, specifically the 3-day timeframe, we observed the conclusion of Wave (4) with the onset of the pandemic, followed by the completion of the first cycle at $203. Currently, we seem to be finalizing a significant Wave II - the overarching Wave II in this case. 🔎 A closer look suggests a clear 5-wave structure downwards towards our Wave (A). Considering this, it seems to align with a zigzag pattern. Consequently, we should now expect a 3-wave structure leading to Wave (B). This Wave (B) is anticipated to fall between 61.8% and 78.6%. Given that the 38.2% Fibonacci retracement from Wave 5 to Wave (A) precisely aligns with our subordinate Wave 4, we presume that's where our Wave A will be situated. 📉 Following this, we expect the emergence a Wave C forming a zigzag pattern. This would indicate a significant drop below the $80 level, which has been the level for both Wave (4) and Wave (A) so far.
NYSE:DISLong
by freeguy_by_wmc
Pfizer - Watch The SupportHello Traders, welcome to today's analysis of Pfizer. -------- Explanation of my video analysis: All the way back in 2012 Pfizer created a massively bullish triangle reversal pattern at the $17.00 level. This was followed by a +200% rally. Since 2022 Pfizer has been dropping significantly and is now retesting the support level which I mentioned in the analysis. If we see bullish conformation on the smaller timeframes, this might be an interesting long trading setup. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
NYSE:PFE
by basictradingtv
7
A dump is going to be happen for BTC up to 36K or more!Hello dear traders, Take care of your positions because of the current situation of the crypto market. According to my analysis on the BTC and many valid indicators and price action, Weakness in bulls power is clear. So I expect to see a correction before the next bullish wave. 47,000$ is a major resistance and is preventing price from going higher, IMO we will see a correction up to 36,000 support area (According to the chart) and the the next bullish wave can start from that area. If you see my previous analysis on the BTC, I expected to see breakout of current major resistance (47K) But It seems we don't see that breakout soon.(Analysis is attached) I will update my analysis at that point, Stay tuned!
Short
by TahaZargar
$NVDA COMPLETE ELLIOT WAVE ANALYSISI have identified all the wave counts visible on the weekly chart, and while they make sense to me, I acknowledge the possibility of errors, given my relatively new exposure to Elliott Wave analysis. It's evident that we are currently within wave B in the overarching wave count. Anticipating an elongated wave B due to various sub waves, my expectation is for wave B to reach the designated green pivot area before completing wave C well below the 2022 low.
NASDAQ:NVDA
by thekidtrader11
Ethereum's Complex Correction: Short-Term vs Long-TermThe cryptocurrency market has experienced significant volatility, and Ethereum (ETH) is no exception. Following a complex correction, Ethereum's current price movement suggests that the bottom may not yet be in sight. In this update, I will dig into the ongoing correction, explore Ethereum's short-term outlook, discuss the potential for a rally, and consider its long-term investment prospects. Understanding the Correction Several months ago, I predicted that Ethereum would reach its peak somewhere between $2000 and $2500. While this prediction still holds potential, it appears that the upside momentum is currently favoring altcoins rather than Ethereum itself. Observing the chart, we can identify a large ABC correction within a WXY pattern, likely completing a larger wave 4. I believe ETHUSD will find a bottom in the coming weeks, possibly within 3-4 weeks, before commencing a rally toward the end of the year. Caution in the Bullish Environment As the market sentiment turns bullish, it is crucial to exercise caution. Historically, this has been a turning point, signaling a potential reversal in market direction. Remain vigilant during this period, as the market may swiftly transition into a bearish phase in 2024 , potentially pushing Ethereum to new lows, at least compared to recent years. While it is too early to make concrete predictions, the possibility of Ethereum dropping below $1000 cannot be disregarded. Long-Term Price Targets and Dollar Cost Averaging Despite the short-term uncertainties, Ethereum's long-term price targets remain bullish. Dollar cost averaging into cryptocurrencies like Ethereum and Bitcoin for longer-term investments is not a bad strategy to employ. In the coming decade, Ethereum could potentially reach price levels around $20,000, particularly if negative events impact the US Dollar. A collapse in the dollar index tends to drive appreciation in the value of cryptocurrencies and other assets. Short-Term Considerations and Bitcoin Dominance In addition to the outlined chart analysis, it is important to monitor Bitcoin Dominance in the short term. The dominance level breaking through 50-52% suggests that Bitcoin, as the market leader, may regain its dominance. This shift could impact the overall performance and market sentiment for Ethereum and other cryptocurrencies. Ethereum's recent correction has introduced short-term risks and complexities, making it challenging to determine an immediate bottom. While a rally into the end of the year is possible, be cautious as market dynamics can change rapidly. For long-term investments, dollar cost averaging into Ethereum and Bitcoin is a prudent strategy, considering the potential for substantial price appreciation. However, investors should, as always, stay informed about global economic factors, particularly the US Dollar, as they may influence the cryptocurrency market as a whole. By closely monitoring market trends, employing risk management strategies, and keeping a long-term perspective, investors can navigate the complex landscape of Ethereum and position themselves for potential gains in the evolving cryptocurrency market.
COINBASE:ETHUSD
by bitdoctor
1
BTCUSD Is Pointing Higher After A CorrectionBitcoin remains at the highs at the beginning of 2024, so we assume that more upside can be seen as recovery is acting like an impulse. As such, be aware of further gains within a five-wave cycle, where we are tracking higher degree wave III up to around 48k - 50k area. Looking at the 4-hour chart, we can see some sell-off after Matrixport’s latest report claims that the SEC will reject all Bitcoin spot ETFs in January, and final approval may be achieved in the Q2. However, we are still tracking two counts at this stage due to an upcoming decision of SEC on spot Bitcoin ETF. As a primary count it can be trading in an (A)-(B)-(C)-(D)-(E) bullish running triangle pattern within higher degree wave 4 before a bullish continuation for wave 5. But, according to secondary count, keep also in mind that recent jump could be also 5th wave out of wave 4 triangle pattern, so we should be aware of a larger, deeper and longer A-B-C corrective setback down to 40k-38k-35k support area.
BITSTAMP:BTCUSDLong
by ew-forecast
2
Bitcoin (BTCUSDT) Supply Area Proximity and Market SentimentsSince September 10, Bitcoin's uptrend has been impressively consistent, marking three months of continuous growth. This prolonged price action significantly raises the probability of an impending correctional move down. BTCUSDT has been trading near the supply area for the past couple of weeks, inducing a sense of caution in the crypto market. While the long-term trend remains strongly bullish, a healthy correction could be beneficial for sustained growth. Additionally, the remarkable surge in altcoins over recent months, though exciting, indicates the need for a potential pullback. As long as BTC is below the current supply area, we anticipate a 20% correction to test the double Fibonacci support at $36k.
by CryptoPAMM
4
BITCOIN LIQUIDATION EVENT 01/03/24 - ALTCOINS MASSIVE GAINS OP!Today we've experienced a crazy liquidation event in the Crypto Market. Bitcoin moved from 45k until 40-41k depending on the exchange. Altcoins lost 20-40%, but many of them already recovered half and some up to 100%. ARB, GMX and ENS did pretty well. Right now, as long as Bitcoin holds this ORANGE TRENDLINE that goes back untli January 2023, on a daily closure, we are fine for continuation. Targets: 47-48K We are close to the near of the Wave 3. Wave 4 correction is near. Right now the best plays to buy Altcoins, since many of them still have to appreciate on value in the comming month. Altocins to watch: XRP THETA FIL XLM IOTA MATIC
COINBASE:BTCUSDLong
by xReve